The government can soon put money in the account of provident fund (PF) account holders. PF account holders are waiting to get interested in the amount deposited in the account. The government has fixed the interest rate on the amount deposited in PF. PF account holders will get interested at the rate of 8.1 percent on their deposits. However, no information has been revealed from the government or EPFO about when the interest amount will be transferred.
How much money will come?
The cash put in the Employees’ Provident Fund Organization has the interest rate stamped on it by the government (EPFO). For the financial year 2021-22, the rate of interest on EPF has been fixed at 8.1%. According to the news, the government can apply for interest money on the amount deposited in the PF account this month.
Now the amount of interest will come in the account of any PF account holder, it will depend on the amount deposited in his account. The government will transfer the interest amount at the rate of 8.1 percent on the deposited amount. Suppose one lakh rupees are deposited in your PF account, then at the rate of 8.1 percent, you will get Rs 8,100 as interest annually.
Where would the PF money be invested?
EPFO invests the amount deposited in the PF account holder’s account in many places. The account holders receive interest on a portion of the investment’s profits. At present, EPFO invests 85% in debt options. These also include government securities and bonds. The remaining 15 percent is invested in ETFs. PF interest is determined on the basis of earnings from debt and equity.
Read More: Tax Saver: Senior citizens will get an 8% return on Tax Saver FD, see what are the rules
Check PF account balance like this
Go to the EPFO website. From the ‘Our Services’ dropdown menu, choose ‘For Employees’. Then click on Member Passbook. Now use your UAN number and password to log in.
Select the PF account and you will see the balance as you open it. To check the balance through SMS, write ‘EPFOHO UAN ENG’ and message it to 7738299899. The balance details will be provided in the response. In addition to these, users of the UMANG app can check their PF balance.
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